Best offshore forex brokers for Indian traders.
29 offshore and international brokers with real search demand from India, ranked by regulation and what they cost you. 2 publish UPI or INR deposits. 19 are not on the RBI Alert List. Cheapest EUR/USD: Axi at $3.50 a lot.
Know the rules before you fund an accountUnder FEMA, Indian residents may trade forex only in permitted forms on authorised platforms. The RBI keeps an Alert List of platforms it hasn't authorised, and residents trading on them can face action. We show every broker's status so you can decide with the facts. The regulated Indian route is exchange-traded currency F&O through SEBI-registered brokers.
| # | Broker | Verdict | Regulation | UPI / INR deposits | Min deposit | Max leverage | Cost / yr | RBI Alert List |
|---|---|---|---|---|---|---|---|---|
| 1 | FP Markets MT4 · MT5 · cTrader | 9.4 | TIER 1 · FSA-SC · ASIC +1 | Not published Crypto deposits too | — | 1:500 | $1,440 | ⚠ LISTED |
| 2 | Fusion Markets MT4 · MT5 · cTrader | 8.7 | TIER 1 · VFSC · FSA-SC +1 | Not published | $0 | — | — | ⚠ LISTED |
| 3 | Capital.com MT4 · MT5 · TradingView | 8.6 | TIER 1 · SCB · FCA +4 | Not published | $10 | — | — | NOT LISTED |
| 4 | AvaTrade MT4 · MT5 · own app | 8.3 | TIER 1 · CMA-KE · CBI +6 | Not published | — | — | — | ⚠ LISTED |
| 5 | IG MT4 · MT5 · TradingView | 8.3 | TIER 1 · FCA · DFSA +1 | Not published | — | — | $1,440 | ⚠ LISTED |
| 6 | Moneta Markets MT4 · MT5 · own app | 8.3 | TIER 1 · FSCA · FSC-MU +3 | Not published | $50 | 1:1000 | $2,064 | NOT LISTED |
| 7 | FxPro MT4 · MT5 · cTrader | 8.1 | TIER 1 · FCA · SCB +1 | Not published | $0 | 1:500 | — | NOT LISTED |
| 8 | HFM (HotForex) MT4 · MT5 · own app | 8.1 | TIER 1 · FCA · FSA-SC +1 | Not published | $0 | 1:2000 | — | ⚠ LISTED |
| 9 | Trading 212 (CFD) own app | 8.1 | TIER 1 · FCA · BaFin +2 | ✓ Google Pay | — | 1:30 | — | NOT LISTED |
| 10 | FOREX.com MT4 · MT5 · TradingView | 8.0 | TIER 1 · CIMA · FCA +1 | Not published | — | — | — | ⚠ LISTED |
| 11 | CMC Markets MT4 · MT5 · TradingView | 7.8 | TIER 1 · FCA · BMA | Not published | — | 1:200 | — | NOT LISTED |
| 12 | Darwinex MT4 · MT5 · TradingView | 7.6 | TIER 1 · FCA · CNMV +1 | Not published | $500 | 1:200 | — | NOT LISTED |
| 13 | OANDA MT4 · MT5 · TradingView | 7.6 | TIER 1 · BVI FSC · FCA | Not published | — | — | $2,400 | NOT LISTED |
| 14 | Saxo SaxoTrader · SaxoInvestor · TradingView | 7.6 | TIER 1 · Danish FSA · FINMA +3 | Not published | $0 | — | — | NOT LISTED |
| 15 | FBS MT4 · MT5 · own app | 7.4 | TIER 2 · CySEC | Not published | $5 | 1:3000 | — | ⚠ LISTED |
| 16 | Exness — | 7.2 | TIER 2 · FSA-SC · FSCA +4 | Not published | — | — | — | ⚠ LISTED |
| 17 | Interactive Brokers Trader Workstation (TWS) · IBKR Desktop · Client Portal | 7.2 | TIER 1 · SEC/CFTC · FCA +8 | Not published | $0 | — | — | NOT LISTED |
| 18 | NAGA own app (NAGA Trader) · TradingView (charts) | 7.2 | TIER 2 · CySEC · FSCA +2 | Not published | — | — | $1,440 | NOT LISTED |
| 19 | LiteFinance MT4 · MT5 · cTrader | 7.1 | TIER 2 · CySEC · FSC-MU | Not published Crypto deposits too | $10 | 1:1000 | — | NOT LISTED |
| 20 | Axi MT4 · MT5 · own app | 6.8 | OFFSHORE · SVG-FSA | Not published | $100 | 1:1000 | $840 | NOT LISTED |
| 21 | Axiory MT4 · MT5 · cTrader | 6.8 | TIER 2 · FSC-BZ · FSC-MU +1 | Not published | $10 | 1:2000 | $2,160 | NOT LISTED |
| 22 | IFX Brokers MT4 · MT5 | 6.6 | TIER 2 · FSCA | Not published Crypto deposits too | $10 | 1:1000 | $1,440 | NOT LISTED |
| 23 | Pepperstone MT4 · MT5 · cTrader | 6.6 | TIER 3 · SCB · CMA-KE | Not published | $0 | 1:30 | — | ⚠ LISTED |
| 24 | Noor Capital MT4 · MT5 · GTN Platform | 6.5 | TIER 1 · CMA-UAE · FCA | Not published | — | — | — | NOT LISTED |
| 25 | ADSS ADSS Platform (own) · MT4 · MT5 | 6.4 | TIER 2 · CMA-UAE | Not published | $100 | — | — | NOT LISTED |
| 26 | Century Financial Century Trader (own app/web) · MT5 · CQG | 5.9 | TIER 2 · CMA-UAE · FSC-MU +1 | ✓ Google Pay | — | — | — | NOT LISTED |
| 27 | XM MT4 · MT5 · own app | 4.6 | OFFSHORE · FSC-BZ | Not published | $5 | — | — | ⚠ LISTED |
| 28 | Eightcap MT4 · MT5 · TradingView | 4.3 | OFFSHORE · SCB · FSA-SC +1 | Not published | $100 | — | — | NOT LISTED |
| 29 | RoboForex MT4 · MT5 · own app | 4.0 | OFFSHORE · FSC-BZ | Not published | — | 1:2000 | — | NOT LISTED |
Included: brokers for which India is a top-five organic search market or sends at least 500 visits a month (Semrush). Cost per year assumes 20 standard lots of EUR/USD a month on the cheapest published account. UPI/INR column shows deposit methods the broker itself publishes; “Not published” doesn't mean it isn't offered. RBI status: RBI Alert List, 95 entities, last updated 19 Nov 2025 (RBI press release 2025-2026/1530), checked against our list on 24 Oct 2026. The RBI says its list isn't exhaustive: “not listed” doesn't mean authorised.
What to check before you deposit
- Who actually holds your money. Most offshore brokers onboard Indians through an entity in Seychelles, Mauritius, St Vincent or Vanuatu, not their UK or Australian arm. The licence that protects you is the one on your account agreement.
- How you get money out. Check withdrawal methods before you deposit. Verified withdrawal times appear on each broker's page as traders report them.
- The real cost. A “zero commission” account can cost more than a raw account with commission. Compare cost per lot, not headlines.
- Bonuses. Deposit bonuses often lock withdrawals until you hit a trading volume.